Indemnification Clauses: Protecting your Company When Drafting Contracts Webinar
Using well-crafted indemnification clauses in your contracts, from employment agreements to agreements for major purchases can save you a lot of headache if a serious mishap occurs. Essentially the indemnification clause is a means to minimize your risk and to provide a type of failsafe for the unknown. The consistent use of such clauses can in the long run save you money as well as aggravation.
The important areas covered in this webinar are:Deciding when to use indemnification clausesCrafting your indemnification clausesWhat risks can be indemnifiedEnforcement of indemnification provisionsRisks of not using indemnification provisionsConsequences of failure to design and fairly administer your policy
Why Should you Attend:
Often a work is done or goods are provided with oral/simplistic agreements or with just a few emails. Even contracts that are supposed to be comprehensive are sometimes pretty thin on details.
Of course all of these contracts work if all parties act with integrity and if there has never been a serious dispute. But what happens when a party agrees to perform a service or buy or sell goods and something goes wrong, particularly a personal injury or serious property damage. The answer to avoiding such risks is a well drafted indemnification clause.
Objectives of the Presentation:Drafting an indemnification clauseEnsuring the enforceability of an indemnification provisionEvaluating risks in a transactionUsing a “basket” in indemnificationAvoiding “double dipping”Clauses that survive a closing or end of an agreementSandbagging